DRICKARD INSURANCE helps with renovation project insurance.

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607-843-8860  insurance@drickardinsurance.com


Property Under Renovation Insurance

( For insurance on a building that does not yet exist see Builders Risk Insurance.)

Send us info on your Renovation Property.


Residential     Commercial     Farm     Why Buy

Most vacant property needing renovation will fit in the insurance programs we sell.  Even homes that have had a fire or a flood and were open to the elements qualified.  Structures that have been empty for a while, including commercial buildings have been insured.  Contact us with your information on your Upstate New York property to see if it qualifies 607-843-8860 or insurance@drickardinsurance.com.  This insurance policy is designed for renovation properties owners.

Property under renovation insurance has become a specialty product.  Fortunately DRickard Insurance sells this type of insurance.  We categorize it into three main categories, residential, commercial and farm.  Any residence building that accommodates from one through 4 families, and most sheds, storage buildings, as wells as garages for non-commercial use or nature, are considered residential.  Buildings for more than 4 families as well as any other structure used for or designed for commercial use will be considered a commercial building.  All structures that may fit the other categories but are found on a farm, including buildings designed for a farming use, are handled under farm policies.

Remodeling Insurance or insurance for remodeling may be handled several different ways. 

  • The first and easiest way to protect smaller remodeling projects is to include the project coverage in your home, landlord, or business policy.  This only works if the location remains occupied during the entire project and the repairs are minor in nature.  You will want to contact us to let us know about the renovation so that the betterments are included in your policy.  During the project, you will need adequate coverage for uninstalled materials also.  Additionally it would not hurt to make sure you contractors are adequately insured and bonded to protect your interests.

  • The second option is to get a special renovation policy or remodeling policy when you have a building that will not be completely occupied during the process.  Please look further down the page for more details on this type of specialized insurance product for renovations and remodeling.

  • Insurance for restoration projects insurance helps protect the property owner whilst renovating or restoring a house or business property back to a useable condition.  This is the type of insurance you will value when you are making your home home again.

NOTE: If your project will change the use or occupancy type of the building you should contact us to make sure the insurance is correct.

If you have not broken ground and started to erect a new building, you probably need Builders Risk Insurance.


Slow renovation projects     Less than 18 month renovation     New Construction

Slow renovation projects that you donít know the total cost of renovation or time table are best insured on the type of policy that allows to insure a property for the amount of investment that you currently have in it, and will allow for premises liability coverage.  As you go along and invest more in the location you may contact us to request an increase in coverage as you go.  This is more work for the agency and we are happy to assist you with this important need.  You are invited to contact us at 607-843-8860 or insurance@drickardinsurance.com. Send us info on your Renovation Property.

Less than 18 month renovation projects that you have a good idea of the total cost have a special solution.  A insurance policy may be created that does not need continuous updating, like the example given above.  Instead, when you know how much money you have currently invested in the project, including total cost to purchase and the completed updates including value of man hours and you know about how much longer the process will take and the estimated time remaining till your house will be occupied or put up for sale as a completed house, you may select a policy that uses this information and you will not need to provide status and valuation updates throughout the policy term.  This is a much simpler way to handle this insurance need.  This is an ideal way for buyers of distressed properties, perhaps fire damaged, who, as a business fix up and resell properties or turn them into income properties.  For more information on this very appealing option we invite you to contact us at 607-843-8860 or insurance@drickardinsurance.com. Send us info on your Renovation Property.

New house construction or New out building Ė is generally not considered a candidate for a renovation policy unless the construction has already started before the insurance coverage is purchased.  It is best to buy insurance before you begin construction. When you buy insurance before construction begins on the building in question a Builder Risk policy is the better option and usually costs less. In either case, all is not lost. Contact us so we can help you 607-843-8860 or insurance@drickardinsurance.com. Send us info on your Renovation Property.


Any building originally built for a commercial purpose, is being used for a commercial purpose, or is to be put to use for a commercial purpose, is generally considered a commercial building.  As a commercial building it will need to insured on a commercial policy form.  This includes buildings that you have at your home, residential, premises.  We do have insurers who usually will agree to insure a property already undergoing or about to undergo a renovation.  This includes a distressed property that you have purchased to fix up and resell or flip or a fixer-upper that you will retain ownership of and put to use creating income for yourself.  For a better explanation please contact us so we can help you 607-843-8860 orinsurance@drickardinsurance.com. Send us info on your Renovation Property.


Farm and Farm Fire policies are specially written in the renovation category because a renovation is going to take place, or is needed according to the opinion of the insurer.  By using one of these policy tools you may be able to insure a building that would be excluded from a homeowners policy.   In fact that if the build was not excluded the insurer of the house would not write a policy at all.  In most Homeowner policies the out buildings are covered under the same terms as the house.  By allowing the building in question to be insured on a Farm Fire policy the insurer is able to pick and choose specific coverage, item by item, to insure named, specific, buildings with.  This can get complicated and one size does not fit all.  So rather than look for a cookie cutter approach to your insurance please call use so we may design the best insurance package we can find to fit your needs.  Our contact information is 607-843-8860 or insurance@drickardinsurance.com. Send us info on your Renovation Property.

5 Reasons to buy Renovation or Remodeling Insurance from DRickard Insurance
1. Simplicity - In most cases you need only to provide us with 6 details to create a quick first blush estimate.  They are, the address of the property, intended use when completed, amount purchased for, renovation labor value, renovation materials value, and the length of the renovation.

2. Experience -  Over the years we have worked on creating remodeling and renovation policies for our customers so much so that insurers listen to us when they are making new insurance products.

3. Choices -  Chose from national insurance programs to locally created policies by people who understand the area.  Many remodeling insurance points of coverage and causes of loss choices are available.  Not every company will be willing to write the same type of policy.  You choose what fits you best.

4.  Value -  Many policies of this nature that are sold nationally have fully earned premiums.  That means if you get done with you project early and you wish to cancel your policy early you will get no premium returned to you.  We have insurers who will return unearned premium to you.  Even better you may have the choice to apply the remaining premium from you renovation policy to a new policy written with them against a new policy for that location at a special discount. 

5.  Future - If this is the first time you are contacting us, you have probably found out that your regular insurance agency or carrier does not handle the product.  We build renovation policies that fit structures and business types that we care for with our standard product lines.  Therefore, we are probably able to help you with all aspects of your business and not just this one item.  Yes, our businesses can have a future together.

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